Template:2002 ISDA Equity Derivatives Definitions 12.9(b)(iv): Difference between revisions

:{{eqderivprov|12.9(b)(iv)}} If “'''{{eqderivprov|Loss of Stock Borrow}}'''” is specified in the related {{eqderivprov|Confirmation}} to be  applicable to a {{eqderivprov|Transaction}}, then upon the occurrence of such an event the {{eqderivprov|Hedging Party}} may give notice that a {{eqderivprov|Loss of Stock Borrow}} has occurred to the {{eqderivprov|Non-Hedging Party}}, who may (A) lend the {{eqderivprov|Hedging Party}}, subject to the conditions below, {{eqderivprov|Shares}} in an amount equal to the {{eqderivprov|Hedging Shares}} at a rate equal to or less than the {{eqderivprov|Maximum Stock Loan Rate}} or (B) refer the {{eqderivprov|Hedging Party}} to a {{eqderivprov|Lending Party}} that will lend the {{eqderivprov|Hedging Party}} {{eqderivprov|Shares}} in an amount equal to the {{eqderivprov|Hedging Shares}} at a rate equal to or less than the {{eqderivprov|Maximum Stock Loan Rate}}, in each case within two {{eqderivprov|Scheduled Trading Days}} of receipt of the notice of {{eqderivprov|Loss of Stock Borrow}}. If neither the {{eqderivprov|Non-Hedging Party}} nor the {{eqderivprov|Lending Party}} lends {{eqderivprov|Shares}} in the amount of the {{eqderivprov|Hedging Shares}} or a satisfactory {{eqderivprov|Lending Party}} is not identified within this period, the {{eqderivprov|Hedging Party}} may give notice that it elects to terminate the {{eqderivprov|Transaction}}, specifying the date of such termination, which may be the same day that the notice of termination is effective. The {{eqderivprov|Determining Party}} will then determine the {{eqderivprov|Cancellation Amount}} payable by one party to the other. <br>